The account title used for recording a written promise that a customer will pay the business a fixed amount of money and interest by a certain date in the future is notes Receivable. A settlement option that a life insurance beneficiary may choose, in which the policy benefits are paid by regular payments of a set sum until the principal and interest are used up.
The prime index or inflation will not cause fixed rates to rise. Rent and leasing charges, salary, and loan payments are a few examples of fixed costs. There are some taxes that are fixed costs as well, such as company licences.
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